11 August 2016 at 1:30 GMT
The Sydney Morning Herald
The Reserve Bank of New Zealand cut rates by a quarter percentage point to 2% because of uncertain global growth, writes Will Willitts. It was the sixth such rate cut in 14 months. Signalling that further easing would likely be required, Governor Graeme Wheeler said "Global growth is below trend despite being supported by unprecedented levels of monetary stimulus". The futures market had indicated on Wednesday that traders were pretty much certain of a monetary policy easing and even saw 20% odds for a further half-percentage-point drop in the key rate.
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